The show will air on Netflix in 2025, although a specific release date is yet to be confirmed.
This announcement follows the success of the first season, which adhered to the popular format of Netflix's hit Formula 1 series 'Drive to Survive' which gave fans behind-the-scenes access to the stars.
Netflix also produced similar sports shows that followed a Rugby series; 'Six Nations: Full Contact' and a Golfing edition 'Full Swing'.
The teams behind the project; NASCAR Studios and Words + Pictures, confirmed another season was on the way with a partnership between the two brands also announced.
'Full Speed Entertainment' aims to produce a variety of premium racing content, ranging from documentaries to special events.
Connor Schell, the CEO and founder of Words + Pictures, said: "I couldn’t be more excited to be expanding our partnership with NASCAR with Full Speed Entertainment."
"The first season of Full Speed was a really rewarding project for our company, and it was a thrill to work side-by-side with NASCAR Studios every step of the way.
"The opportunity to bring audiences more great racing content and collaborate with NASCAR opens a wealth of possibilities we can’t wait to get working on."